This paper makes the case for a change agenda that stands the best chance of restarting Australia’s productivity growth: a renewed national effort to reinvigorate competition and dynamism in the economy.

The paper sets out the case for a national pursuit of competition and dynamism. It compiles the evidence of a trend toward declining dynamism and competition, and discusses its potential impacts on businesses and households. It offers case studies and examples of where increased competition have emerged and how it has benefited consumers, and cites examples of where there is further work to do.

A pro-competition agenda should include regulatory reform, health and social services market reform, capital markets reform and labour market reform, and tackle issues in industry or market practice. 

Recommendations

1. Empower pro-competition reform.
2. Invest in 'National Competition Policy 2.0'.
3. Remove gatekeeping by industry incumbents.

The report is accompanied by a chart pack.